Depending on what level of sophistication, I would add economic and real estate projections in the area, including new supply, current and future competition, and future developments impacting the subject. 

Greystone would need to include that recommendation in its Covid-19 Forbearance risk memo and discuss with Fannie Mae for approval.Answer - Freddie Mac SBL: Borrowers can pursue the Payroll Protection Program as it is unsecured debt, but cannot pursue EIDL with out Lender Consent for subordinate debt.Answer - Freddie Mac Non-SBL: Borrowers cannot pursue the SBA Loans (EIDL or PPP) without first pursuing Lender Consent for subordinate debt

Regarding payroll, you may use funds to compensate those individuals for their services in the ordinary course of business.The SBA UCC filing reaches all business assets to the value of the loan.

A list I have put together are the following:- Last 3 years of P&Ls (both general and detailed)- Last 3 years business returns- Last 3 years SCF- Last 3 years BS- Last 3 years general ledger- Last 3 years worth of bank statements- Last 3 years sales vs customer history- Last 3 years of payroll reports- Current lease agreement- Other fixed monthly expenses?

Payroll Protection Plan: is a loan that when used to pay specific expenses (payroll) it is forgiveable. 

@Vinson Lee We started a lease mid-month once to aline with the tenant's payroll.  

Spoke with a buisness owner yeasterday, he has 600 on payroll and say this is a hoax and he does not believe in it.

The penalties added up to, basically, a loan at around 3 or 4%, as I recall, as far as paying penalties.Then, the IRS will tell your payroll person that you are not allowed to change your W4 again until you have paid them back.This doesn't show up on any credit report. 

I was not as sophisticated back then in the law.

If you don't meet the accredited investor qualifications, you should be able to find some syndicators who accept sophisticated investors.